The Milli Majlis has approved amendments to the Criminal Code and the Code of Criminal Procedure concerning the financing of terrorism in their third reading. The changes set out more precisely how legal entities will be held liable in this area.
Lawmakers passed the amendments on the financing of terrorism during a plenary session of the Milli Majlis’s autumn sitting, following debate on the floor. Under the new provisions, a legal entity will face criminal-law measures if its officials commit the crime of financing terrorism while performing their duties, provided the entity had failed to establish the financial-transaction controls required by law.
In such cases, it will not matter whether the offence was committed for the benefit of the legal entity or to protect its interests.
The bill also notes that financing terrorism differs fundamentally from other economically motivated crimes. Unlike those offences, its purpose is not financial or other economic gain, but directing funds toward a terrorist act, a terrorist organization or the activities of a terrorist.
Read also: Milli Majlis backs bill expanding Central Bank’s oversight powers
